USD/JPY: Be patient and wait for big rallies

I could’ve been a bit greedier on EUR/JPY but nobody ever went broke booking profits so best go and look for the next suitable trade. I’m looking now to buy biggish dips in cable or AUD/USD but won’t leave any overnight orders, too dangerous.

  1. hy sean,

    where do you plan to buy in audusd, to me it seems too dangerous, even intraday.

    so you would say when audusd falls to 0,9290 you would buy and sell after generating 50 pips at 0,9340?, but where then to set stopploss i mean it could easily fall through 9290 ?

    i appreciate your comment!


  2. I try not to worry about the stop-loss level too much before the trade Chris, I guess it’s like a golfer worrying about the putt coming back be4 he’s had the 1st attempt 🙂 Sure the aud/usd looks ugly now but they are always the juiciest opportunities. Well done on Yen btw, a profits a profit

  3. Hi sean,

    I am long n gbpchf @ 1.4500. May i know why this sharp fall. weather it will come back or it will go further down. can u please tell about the levels

  4. Hi Raj, I’ve got same position but mine is definite long term trade. I’d say it will trade 14325/50 ish on base and 14650 ish op top, range for short-term. You may be slightly in middle of this so if unsure, reduce at breeakeven levels and buy deeper dips?

  5. Hey Sean,

    Are you thinking there will be a recovery of the USD against the JPY, so keep an eye out for a few constant rises in the USD before jumping on?

  6. Hi again Raj, I’ve had another look at all of the cross pairs and I think I might have wrong timing on this cross. I’ve closed my position. Thanks for question as it got me thinking again 🙂

  7. Hi Steven, it will be choppy and volatile is all I’m sure about. Perhaps 95/98 range for few sessions? Prefer to sell rallies and don’t like long side at all

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